Haywood Securities Updates Buy Rating on Foran Mining Corporation - Video Research Alert on InvestmentPitch.com

Vancouver, British Columbia--(Newsfile Corp. - November 26, 2014) - Haywood Securities has issued a new report on Foran Mining Corporation (TSXV: FOM). Following the recently released summary results of a Preliminary Economic Assessment of the McIlvenna Bay Deposit, analyst Stefan Ioannou gives Foran a buy rating and a target price of $0.35, a premium of 43% to the $0.25 price on November 17th, the day the report was issued.

InvestmentPitch.com has produced a "video research alert" about Foran based on this report. If this link is not enabled, please visit www.InvestmentPitch.com and enter "Foran" in the search box.

If you cannot view the video above, please visit:
http://www.investmentpitch.com/video/0_6na3swqy/Haywood-Securities-has-issued-a-new-report-on-Foran-Mining-Corporation-TSXV-FOM

Foran's 100% owned flagship McIlvenna Bay Project is located in Canada's prolific Flin Flon mining belt in east central Saskatchewan, an easy 60 minute drive from the town of Flin Flon, Manitoba, which hosts Hudbay Mining's zinc smelter.

The PEA, headed by JDS Energy & Mining, is centred on a 5,000 tonne per day underground mine and concentrator with a 14-year mine life. Initial capital costs are pegged at $249 million, including a 20% contingency.

Patrick Soares, President & CEO stated: "Results demonstrate that McIlvenna Bay should advance to a feasibility study."

Once up and running, McIlvenna Bay would produce approximately 60 million pounds zinc, 38 million pounds copper, 16,000 ounces gold, and 398,000 ounces silver a year at cash costs, net of by-product credits, of negative 37 cents per pound zinc, or 84 cents per pound copper. For the purposes of the PEA, zinc concentrate is assumed to be transported to a North American smelter, with copper concentrate sent to an Asian smelter, rather than to the nearest smelters.

The 25.2 million tonne McIlvenna Bay deposit remains open at depth, and the PEA does not consider potential satellite feed from the project's neighbouring historic resources and targets, such as Bigstone, Balsam and others.

According to Haywood's model, approximately 31% of McIlvenna Bay's life-of-mine revenue is derived from zinc, versus approximately 56% from copper, which significantly enhances the project's intrinsic value given the scarcity of large advanced-stage zinc development projects in a market that is facing medium-term supply shortfall.

Darren Morcombe, Chairman commented: "This project, with significant exposure to zinc, is moving ahead as commentators highlight a tightening zinc market."

Analyst Stefan Ioannou stated: "We note the region's giant Flin Flon deposit is now depleted. We continue to believe HudBay will eventually need to look beyond Lalor to support the company's major infrastructure in the region. Hence, corporate activity is a notable wild-card catalyst that could drive Foran's market valuation higher."

The shares are currently trading at $0.23, a significant discount to the $0.35 target price, and with approximately 84.4 million shares outstanding, the company is capitalized at approximately $19 million.

For more information, please visit the company's website www.foranmining.com or contact Fiona Childe, VP Corporate Development at 416-363-9229 or email ir@foranmining.com.

For more information about Haywood Securities or to obtain a copy of their research report, contact your nearest Haywood office. Their branches are listed on their website at www.haywood.com.

About InvestmentPitch

InvestmentPitch.com is a leading international producer and distributer of specialized video content for the investment community. The company specializes in producing three minute videos based on news releases, research reports and other news of interest to investors.

CONTACT:
InvestmentPitch.com
Barry Morgan, CFO
bmorgan@investmentpitch.com